MATERION Corp

Listed Company

MTRNCIK 0001104657NYSELarge AcceleratedMetal Forgings & StampingsOhioFY ends Dec 31

Period

FY 2025

Revenue

$1.79B

Net Income

$74.82M

Total Assets

$1.80B

Equity

$943.28M

Shares Out

20.80M

Op. Cash Flow

$103.24M

Business

MATERION Corp is an integrated producer of high-performance advanced engineered materials used in electrical, electronic, thermal and structural applications. It offers specialty and precious metals, inorganic chemicals and powders, engineered beryllium and copper-based alloys, beryllium composites and ceramics, vapor deposition targets, precision thin-film coatings, optical filters and assemblies, and engineering and product development services. The company operates four reportable segments: Performance Materials, Electronic Materials, Precision Optics, and Other (corporate). Products are sold worldwide directly from U.S., European and Asian facilities, through company-owned service centers, distributors, agents and independent sales representatives.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,787	1,685	1,665	1,757	1,511
Cost of sales	1,478	1,359	1,316	1,413	1,227
Gross margin	309	326	349	344	284
Selling, general, and administrative expense	143	146	158	169	164
Research and development expense	26	29	28	29	27
Goodwill impairment	0	56	0	0	0
Long-lived asset impairment	0	17	0	0	—
Loss on asset disposal	—	6	0	0	—
Restructuring expense (Note E)	3	7	4	2	−438,000
Other net (Note F)	27	18	23	24	17
Operating profit	110	47	136	120	77
Other non-operating (income) expense net (Note P)	−2	−2	−3	−5	−5
Interest expense net (Note G)	31	35	31	22	—
Total income (loss) before income taxes	82	15	108	103	77
Income tax expense (Note H)	7	9	12	17	5
Net income	75	6	96	86	72
Net income per share of common stock (in dollars per share)	3.61	0.28	4.64	4.19	3.55
Net income per share of common stock (in dollars per share)	3.58	0.28	4.58	4.14	3.5
Basic (in shares)	21	21	21	21	20
Diluted (in shares)	21	21	21	21	21

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents (Note A)	14	17	13	13	14
Accounts receivable (Note A)	223	194	193	215	214
Inventories, net (Notes A and J)	461	441	442	423	361
Prepaid and other current assets	92	72	62	39	38
Total current assets	790	724	709	690	627
Deferred income taxes (Notes A and H)	8	3	5	3	5
Property, plant, and equipment (Notes A and K)	1,377	1,316	1,282	—	—
Less allowances for depreciation, depletion, and amortization	−841	−805	−767	—	—
Property, plant, and equipment net	535	511	515	449	—
Operating lease, right-of-use asset (Note M)	62	64	58	64	63
Intangible assets (Notes A and M)	106	109	134	—	—
Other assets (Note P)	22	22	22	23	27
Goodwill (Notes A and N)	281	264	321	319	319
Total Assets	1,803	1,698	1,763	1,692	1,607
Short-term debt (Note O)	22	34	39	21	15
Accounts payable	149	106	126	108	86
Salaries and wages	19	21	26	36	38
Other liabilities and accrued items	45	48	46	55	53
Income taxes (Notes A and H)	5	5	5	4	4
Unearned revenue (Note D)	13	13	14	15	8
Total current liabilities	254	227	255	239	205
Other long-term liabilities	13	12	13	12	15
Operating lease liabilities (Note M)	61	63	54	59	57
Finance lease liabilities (Note M)	13	12	14	14	16
Retirement and post-employment benefits (Note P)	24	26	26	20	33
Unearned income (Notes A and L)	56	76	104	108	98
Long-term income taxes (Notes A and H)	532,000	2	4	665,000	1
Deferred income taxes (Notes A and H)	3	3	20	28	27
Long-term debt (Note O)	436	408	388	411	434
Serial preferred stock (no par value; 5,000 authorized shares, none issued)	0	0	0	0	0
Common stock (no par value; 60,000 authorized shares, issued shares of 27,148 for both 2025 and 2024)	352	336	—	—	272
Retained earnings	912	849	854	769	694
Common stock in treasury (6,413 shares for 2025 and 6,384 shares for 2024)	−277	−262	−238	−221	−210
Accumulated other comprehensive loss (Note Q)	−51	−61	−47	−42	−40
Other equity	7	7	6	5	5
Total shareholders equity	943	869	885	800	720
Total Liabilities and Shareholders Equity	1,803	1,698	1,763	1,692	1,607

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion, and amortization	69	69	62	53	44
Amortization of deferred financing costs in interest expense	2	2	2	2	1
Stock-based compensation expense (non-cash)	11	11	10	9	7
Amortization of pension and post-retirement costs	−154,000	−307,000	−1	−146,000	437,000
Loss on sale of property, plant, and equipment	282,000	1	20,000	14,000	−282,000
Deferred income tax (benefit) expense	−5	−17	−7	2	−13
Impairment charges	0	73	0	0	0
Loss on asset disposal	0	6	0	—	—
Net pension curtailments and settlements	230,000	0	142,000	−551,000	0
Decrease (increase) in accounts receivable	−26	−4	23	−4	−30
Decrease (increase) in inventory	−13	−468,000	−19	−64	−43
Decrease (increase) in prepaid and other current assets	−15	−11	−23	−2	−4
Increase (decrease) in accounts payable and accrued expenses	34	−16	7	—	—
Increase (decrease) in unearned revenue	−15	−25	−17	207,000	106,000
Increase (decrease) in interest and taxes payable	663,000	−3	4	154,000	−220,000
Increase (decrease) in unearned income due to customer prepayments	0	0	17	22	14
Other net	−14	−4	−8	−261,000	3
Net cash provided by operating activities	103	88	144	116	90
Payments for acquisition, net of cash acquired	−20	0	0	−3	−392
Payments for purchase of property, plant, and equipment	−53	−69	−111	—	—
Payments for mine development	−26	−12	−9	0	0
Proceeds from sale of property, plant, and equipment	932,000	1	654,000	850,000	881,000
Net cash used in investing activities	−98	−80	−119	−80	−494
Proceeds from (repayments of) borrowings under credit facilities, net	34	46	8	—	—
Repayment of debt	−18	−30	−15	−19	−2
Principal payments under finance lease obligations	−604,000	−683,000	−2	−3	−3
Cash dividends paid	−12	−11	−11	−10	−10
Deferred financing costs	−3	−156,000	0	0	−7
Repurchase of common stock	−8	0	0	0	0
Payments for withholding taxes for stock-based compensation awards	−3	−8	−5	−4	−3
Net cash used in financing activities	−10	−4	−25	−36	393
Effects of exchange rate changes	2	−607,000	−149,000	−2	−394,000
Net change in cash and cash equivalents	−3	3	193,000	−1	−11

Filings

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